Added to YB: 2026-05-19
Pitch date: 2026-05-16
SE [neutral]
Sea Limited
+0.11%
current return
Author Info
Company Info
Sea Limited, through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally.
Market Cap
$54.0B
Pitch Price
$87.18
Price Target
N/A
Dividend
N/A
EV/EBITDA
15.83
P/E
34.74
EV/Sales
1.87
Sector
Broadline Retail
Category
growth
Sea: The Triple Engine Firing on All Cylinders
SE (earnings): Q1 rev $7.1B (+47% YoY, fastest in 4yrs), beat est $6.64B. Op income $593M (+30% YoY), adj EBITDA surpassed $1B for 1st time (+9% YoY). E-comm GMV $37.3B (+30% YoY), implied take rate 12.1% on 80% YoY ad rev surge. DFS loan book $9.9B (+71% YoY), 90d NPL stable 1.1%. Gaming bookings $931M (+20% YoY). Margins compressed to 44% gross/8% op (from 46%/9%) on strategic investments in logistics, fulfillment, ShopeeVIP. Brazil standout mkt, profitable w/ fastest growth. Mgmt guides FY26 GMV +25%, adj EBITDA≥2025 levels. Improving unit econ: instant delivery costs -20% YoY, AI cut service costs -30%, ShopeeVIP lifts spend 30-40%.
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